A block trade by the China Investment Corporation of its $800 million stake in the industrial property developer Goodman Group could be imminent, according to talk in the market, with some speculating that the investment banks are likely to be vying for an advisory role to the sovereign wealth fund on the deal.
A likely frontrunner to secure the advisory role would be Macquarie Group, which has previously worked on major deals for Goodman, should a block trade proceed. According to a note by JPMorgan's sales team, investors are betting CIC's trade of its 9.8 per cent interest in the business is a high probability..............................................Full Article: Source